Apple Hospitality REIT, Inc. $APLE Stock Holdings Lifted by Centerbridge Partners L.P.

Key Points

• Centerbridge Partners boosted its stake in Apple Hospitality REIT by 18.4% to 2,247,785 shares, making APLE its second-largest holding (~26.7% of the fund) and representing about 0.95% of APLE (~$27.0M); institutional investors now own 89.66% of the company.
• Apple Hospitality missed EPS for the quarter ($0.13 vs. $0.29 consensus) while revenue was slightly above estimates, with shares trading near $11.70, a market cap of $2.76B and a P/E of 15.8.
• The company declared a monthly $0.08 dividend (ex-dividend Feb 27), implying an annualized yield of ~8.2% but a high dividend payout ratio of 129.73%.

Centerbridge Partners L.P. boosted its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 18.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,247,785 shares of the real estate investment trust's stock after buying an additional 350,000 shares during the quarter. Apple Hospitality REIT makes up about 26.7% of Centerbridge Partners L.P.'s holdings, making the stock its 2nd biggest holding. Centerbridge Partners L.P. owned about 0.95% of Apple Hospitality REIT worth $26,996,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Apple Hospitality REIT by 7.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,306,184 shares of the real estate investment trust's stock valued at $39,707,000 after acquiring an additional 215,355 shares during the period. UBS Group AG boosted its holdings in shares of Apple Hospitality REIT by 94.3% during the third quarter. UBS Group AG now owns 2,935,463 shares of the real estate investment trust's stock worth $35,255,000 after purchasing an additional 1,424,287 shares during the period. LSV Asset Management boosted its holdings in shares of Apple Hospitality REIT by 8.8% during the second quarter. LSV Asset Management now owns 2,741,253 shares of the real estate investment trust's stock worth $31,990,000 after purchasing an additional 221,976 shares during the period. Systematic Financial Management LP grew its stake in shares of Apple Hospitality REIT by 3.5% in the second quarter. Systematic Financial Management LP now owns 2,255,552 shares of the real estate investment trust's stock worth $26,322,000 after purchasing an additional 75,638 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Apple Hospitality REIT by 11.6% in the third quarter. Bank of America Corp DE now owns 2,125,063 shares of the real estate investment trust's stock worth $25,522,000 after purchasing an additional 220,434 shares during the last quarter. Institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Trading Down 1.5%

Shares of APLE opened at $11.70 on Friday. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $13.84. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. The firm's 50-day moving average price is $12.19 and its 200-day moving average price is $12.05. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 15.80 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.16). Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%.The company had revenue of $326.44 million during the quarter, compared to the consensus estimate of $322.60 million. Sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 8.2%. Apple Hospitality REIT's dividend payout ratio is currently 129.73%.

Wall Street Analyst Weigh In

A number of research firms have commented on APLE. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $14.00 price target on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Finally, Barclays initiated coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They set an "overweight" rating and a $14.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of "Hold" and an average price target of $12.92.

Apple Hospitality REIT Profile

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

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